The Critical Care Equipment Market is expected to reach $2.61 billion, at a CAGR of 8.0% during the forecast period.
Continuous technological advancements in critical care devices, increasing government support, growing private sector investments in the healthcare industry, and increasing patient population base are key factors fuelling the growth of the north africa critical care equipment market in the emerging nations. High replacement rate of critical care devices, growing medical tourism in Asia, and development of multi parameter monitors are some other prime factors offering growth opportunities for players in the critical care devices market. However, high cost of these devices is restraining the growth of this market.
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Research Methodology Adopted:
A combination of bottom-up and top-down approaches was used to calculate the market sizes and growth rates of the north africa critical care equipment market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. Primary interviews with key opinion leaders were also used to determine the percentage shares of each product in emerging nations.
Market Segmentation in Depth:
On the basis of product, the critical care devices market is divided into three major segments, namely, patient monitors, ventilators, and infusion pumps. The patient monitors segment is estimated to hold the largest share of the market in emerging nations. Increasing patient population base, development of new patient monitors with wireless and sensor technology, and increasing private sector investments are driving the growth of this market segment.
The ventilators market segment is further categorized on the basis of products into adult ventilators and neonatal/infant ventilators. Increasing geriatric population, rising number of ICU patients in India, growing use of home care ventilation devices, and increasing prevalence of respiratory devices are key factors driving the market for adult ventilators in the emerging nations. Whereas, increasing incidence of pre-term births in emerging nations is a key factor driving the adoption of neonatal ventilators in these regions.
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Asia is estimated to hold the largest share of the north africa critical care devices market, followed by Middle East and North Africa. The Indian critical care equipment market is expected to grow at the highest CAGR. Presence of a large geriatric population, increasing prevalence of chronic and respiratory diseases, improving healthcare infrastructure in rural areas, and increasing number of super-specialty hospitals in India are propelling the growth of the Indian critical care devices market.
Koninklijke Philips N.V. (Netherlands), General Electric Company (U.S.), Medtronic plc (U.S.), Drägerwerk AG & Co. KGaA (Germany), Skanray Technologies Pvt. Ltd (India), Maquet Holding B.V. & Co. KG. (Germany), B. Braun Melsungen AG (Germany), and Fresenius Kabi (Germany) are some of the key players operating in the Asia and North Africa Critical Care Equipment Market
